Educational Post:
What is OCO order?
An OCO, or “One Cancels the Other” order allows you to place two orders at the same time. It combines a limit order, with a stop-limit order, but only one of the two can be executed.In other words, as soon as one of the orders get partially or fully filled, the remaining one will be canceled automatically. Note that manually canceling one of the orders will also cancel the other one.The OCO feature is a simple but powerful tool, which allows you and other Binance users to trade in a more secure and versatile way. This special type of order can be useful for locking profits, limiting risks, and even for entering and exiting positions.Important terms in OCO order.
Limit orderPrice:
The price of your limit order. This order will be visible on the order book.
Stop-LimitStop:
The price at which your stop-limit order will be triggered (e.g., $300).Limit: The actual price of your limit order after the stop is triggered (e.g., $290).Amount: The size of your order (e.g., 5 BNB).Total: The total value of your order (total cost).
Like share and follow@ multipreneurs
